I try to record with my microphone but no audio is recorded! How do I fix this?

This can easily be fixed within the Windows Mixer - Recording Control!
Open the "Recording Control" by clicking click the red "Record" button on the toolbar then click "Adjust Recording Levels..." This will bring up the Windows Mixer - Recording Control where the adjustments are made! Next, under "Microphone Balance" you have to make sure that the mute box is "checked" otherwise no audio will be recorded. If you do not see the "Microphone Balance" option, you will need to add it to the Windows Mixer. To do this, click "Options" followed by "Properties" and simply check the "Microphone" box.